According to reports in all of today?s papers, an agreement with the International Monetary Fund is very near to being ratified. Jos? Lois Malkum, head of the Central Bank and former Minister of Finance, met with Enrique Iglesias, the head of the Inter American Development Bank (IADB), at the Hotel El Embajador yesterday, where he expressed confidence that an IMF accord would involve neither mass reduction of the government payroll nor would it affect the poor. Malkum also promised that no new taxes were contemplated in the new agreements with the IMF.
Carlos Despradel, the current Technical Secretary of the Presidency, added that the IADB was very interested in assisting the Dominican Republic as well and Iglesias affirmed that the Dominican economy was solid ?in spite of the dramatic and serious financial collapse that it suffered.? Iglesias also emphasized that the recommendations of the IADB and the other international organizations strive to remove the heaviest economic burden from the poorest sectors. Before meeting with President Mej?a, Iglesias met with members of the banking and financial communities, as well as members of the Catholic Church and business community. He heard their opinions on the nation?s economic situation and explained his organization?s position with regard to the current crisis and the possible steps that would be the IADB?s contribution to a solution. As reported in Hoy, the president of the IADB told the press that he was firmly convinced that the three major international organizations would assist the Dominican Republic to extricate itself from the mess created by the Baninter collapse.